Titan Media App reported on July 26 that with the normalized development of the panda bond market, overseas issuers have put forward higher requirements for the registration and issuance mechanism. The NAFMII has responded to market demand, strengthened international research, and launched a package of optimization measures. This optimization measure can improve the efficiency of registration and issuance in four aspects: First, allow more overseas issuers to obtain the convenience of "multi-variety unified registration (DFI)". Expand the scope of application of panda bond DFI to overseas basic-level enterprises. Under the DFI mechanism, overseas issuers have greater flexibility in choosing the type of issuance, scale, term, and lead underwriter, which can greatly reduce the workload and cost of repeated registration. The second is to unify the information disclosure requirements of overseas enterprises. Allow overseas basic-level enterprises to use the prospectus form of overseas mature-level enterprises, realize the unification of information disclosure standards for different types of overseas enterprises, and strengthen the integration with international standards. The third is to pilot the "additional issuance mechanism" for specific international issuers. To meet the needs of international development agencies and foreign government agencies to improve secondary liquidity, based on the relevant business questions and answers issued by the association before, a pilot bond issuance mechanism was launched. The fourth is to introduce a regular issuance plan for panda bonds. Drawing on the European Medium Term Note Program (EMTN program) and the Frequent Issuance Program (FIP) of the Association's debt financing instruments, the preparation of the prospectus of panda bonds was optimized.
media coverage
Titanium Media
Related events
- The Interbank Dealers Association launched a package of measures to optimize the panda bond mechanism2022-07-26
- Haitong Securities: The Association of Dealers warns the company and related subsidiaries2021-01-10
This article is reprinted from: https://readhub.cn/topic/8hY0VOsI3lT
This site is for inclusion only, and the copyright belongs to the original author.